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-china cooperation. a negative scenario would be where the two countries start working at cross purposes with each other and cannot communicate, cannot resolve the problems that exist between them. that would be something we seriously have to be concerned about. >> donald, so, i mean, okay. there is all the talk and maybe mutual interest and cooperation and there's talk about china catching or surpassing the united states as a superpower in the world, whatever that means. when you look at what that's meant for the u.s., you have troops, military bases, tangled up in geo political stuff across the globe. what kind of superpower does china want to be? >> well, china does not in my opinion want to be the kind of superpower that we normally think of in a military and strategic sense when we use that term. actually, the report that just came out said that the u.s. would remain dominant as the leading power in 2030. it was not as if -- it is not if the chinese are seeking or will replace the united states. tha
-china cooperation. a negative scenario would be where the two countries start working at cross purposes with each other and cannot communicate, cannot resolve the problems that exist between them. that would be something we seriously have to be concerned about. >> donald, so, i mean, okay. there is all the talk and maybe mutual interest and cooperation and there's talk about china catching or surpassing the united states as a superpower in the world, whatever that means. when you look at...
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of apparel is exported each year from bangladesh, the world's second largest apparel exporter after china. it's growing very fast largely because it has the lowest minimum wage of any country that's really exporting apparel to any sizable degree. $37 a month is the minimum wage there. >> sreenivasan: you also pointed to over the weekend a more devastating fire in pakistan. it's kind of started to lead to this maze of contractors and subcontractors. that seems to be standard operating business where an american company could be well intentioned but ultimately they don't know who is actually producing what's on the ground. >> i've written several articles on these fires with my colleagues. we found that time after time the retailers, the subcontractors, they're all asserting we didn't know about it. we didn't know that subcontractors of the subcontractors we're using at these plants. they say you can't blame us. i think many people call that plausible deniability. a lot of labor rights groups are saying retailers, subcontractors, you have to step up to the plate. you have to make sure that
of apparel is exported each year from bangladesh, the world's second largest apparel exporter after china. it's growing very fast largely because it has the lowest minimum wage of any country that's really exporting apparel to any sizable degree. $37 a month is the minimum wage there. >> sreenivasan: you also pointed to over the weekend a more devastating fire in pakistan. it's kind of started to lead to this maze of contractors and subcontractors. that seems to be standard operating...
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wisconsin company over to china. virginia lightbulb company to china. g.e. lost 34,000 jobs in this country. >> bob: how many companies send them to china. >> eric: why are they spending snell cheap labor. you told me union brings the cost up for everyone. number two, they are tacking the beegeezes out of companies here. of course they go overseas. >> bob: you say it's the highest tax rate for corporations here? misnomer. >> dana: highest in the free world. >> bob: deductions they pay less than other countries. >> dana: what he meant is poverty in china is outrageous. they respect people's skills but they don't respect their opinions so they fall completely short. we should do more to help improve the human rights situation. >> eric: you talk about the greatness of the union move in the the "a" block. if you unionize china would they have any growth whatsoever at all? if you slap minimum wage on chinese worker what would happen? >> bob: do there what robert barrons did here, murder, maim union people. >> greg: oi vey. >> bob: yeah, right. if you sit back the
wisconsin company over to china. virginia lightbulb company to china. g.e. lost 34,000 jobs in this country. >> bob: how many companies send them to china. >> eric: why are they spending snell cheap labor. you told me union brings the cost up for everyone. number two, they are tacking the beegeezes out of companies here. of course they go overseas. >> bob: you say it's the highest tax rate for corporations here? misnomer. >> dana: highest in the free world. >> bob:...
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, not to give our business to china. that's a constant tension. we have a lot of companies that want to be active and integrate with chinese companies. in every one of three cars on our road, they have a part. in terms of the committee, foreign investment in the u.s., the arm of the treasury making this decision, a source told me following this closely told me they will be coming up with their decision within the next week, and if there's red flags they'll take a second review that will last 45 days. it's up to the obama administration and they're going to take a look a lot of heat about where the stimulus dollars went, why the company failed, and why we actually let companies come in owned by the chinese and rescue ailing companies when we need the jobs like you said here. >> there was an american company wanting to buy it, to keep the technology here at home where we need it. a.b., do you remember the first time we heard about this committee? >> oh, no. >> january of 2006. >> oh, yeah. that's so long ago, i don't even
, not to give our business to china. that's a constant tension. we have a lot of companies that want to be active and integrate with chinese companies. in every one of three cars on our road, they have a part. in terms of the committee, foreign investment in the u.s., the arm of the treasury making this decision, a source told me following this closely told me they will be coming up with their decision within the next week, and if there's red flags they'll take a second review that will last 45...
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we were worried about central bank, liquidity, numbers okayed here, heating up in china. people thought europe was contained, and it feels that way now. people looking past the headlines whether it's the fiscal cliff or europe. i mean, there's a lot of doom day sayers out there, and it makes sense, but it seems like everything right now is contained, and the trade is up to the upside. david: right. liz mentioned the fed decision coming up, should be hearing about it tomorrow. what's the market expecting from the fed? in what way will they be excited or disappointed? >> well, i think the market, if you look at the options market, the flows into the ten year treasuries, it's implying 85 billion per month. the reason i say that is right now, deals, what, 165 #, if that was not the case, yields should be up 180, maybe 183 right now so all the flow right now is pointing to 85 or 90 billion per month. liz: okay. none of us is going to fight the tape here, larry. we'll talk to you in a moment when the s&p futures close, but in the meantime, going to the panel, daifd. david: sam,
we were worried about central bank, liquidity, numbers okayed here, heating up in china. people thought europe was contained, and it feels that way now. people looking past the headlines whether it's the fiscal cliff or europe. i mean, there's a lot of doom day sayers out there, and it makes sense, but it seems like everything right now is contained, and the trade is up to the upside. david: right. liz mentioned the fed decision coming up, should be hearing about it tomorrow. what's the market...
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greed to take jobs and cheap labor markets so they can get right to work law states in indonesia and china and then made right to work law here. it means it's a gap between the wealth and the workers. workers have a right to expect liberal wages, health care, education care, the right to vote protected, and educate their children. these rights are reasonable and should be enforced. >> reverend jackson, you and i have known each other a long time. did you ever think you would be in michigan leading a protest against right to work? >> i really did not. i think that the tea party has 150-year-old roots between what is -- the right it organize, collective bargaining and states rights. i never thought it would go this far north, and, yet, these workers in this state must fight back and draw a line in the sand. that's why i'm going to address a major one-day strike, maybe a one-day march on washington for massive and action to bring about the ship in the flow of the wind. >> reverend jesse jackson, bob king from the united autoworkers. thank you very much. i know it's a cold day. thanks for join
greed to take jobs and cheap labor markets so they can get right to work law states in indonesia and china and then made right to work law here. it means it's a gap between the wealth and the workers. workers have a right to expect liberal wages, health care, education care, the right to vote protected, and educate their children. these rights are reasonable and should be enforced. >> reverend jackson, you and i have known each other a long time. did you ever think you would be in...
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and china may be the number one economy soon. really? "varney & company" about to begin. >> right off the top, breaking news for you now. fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u.s. bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. and a list of banks targeted includes j.p. morgan chase, bank of america, u.s. bancorp, pnc financial services and suntrust banks. more details when we've got them. the power and might of unions on display today and being tested. you will see huge protests at the state capital building in michigan where right to work legislation will be signed today. that means workers will be able to choose if they want to join the union. they will no longer be compelled to pay dues. here is the president speaking at a daimler factory in michigan yesterday. >> we do everything we can to encourage companies like daimler to keep investing in american workers. and by the way, what we shouldn't
and china may be the number one economy soon. really? "varney & company" about to begin. >> right off the top, breaking news for you now. fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u.s. bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. and a list of banks targeted includes j.p. morgan chase, bank of america, u.s. bancorp, pnc financial services...
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he said during a broadcast interview today about china going to a more consumer based economy quote the one thing that actually works state run communism. it may not be your cup of tea, but their government works. what they are doing makes sense. chrysler has been forced to rehire employees caught drinking and possibly smoking marijuana during a lunch break. the fox affiliate in detroit took this video in 2010. 13 workers were fired and go suspended. the union-backed arbitration process ordered them reinstated. they came back to work this week. chrysler says it does not agree with the decision, but it's time to move on. and hundreds of michigan teachers called in sick or took vacation days today. most were believed to be participating in union protests against michigan's right-to-work legislation now law. that we told you about earlier in the program. at least two entire school districts had to shut down today. meanwhile the department of education is giving michigan students he some very poor grades. it says 72% of public school eighth graders are not proficient in reading and 69% are
he said during a broadcast interview today about china going to a more consumer based economy quote the one thing that actually works state run communism. it may not be your cup of tea, but their government works. what they are doing makes sense. chrysler has been forced to rehire employees caught drinking and possibly smoking marijuana during a lunch break. the fox affiliate in detroit took this video in 2010. 13 workers were fired and go suspended. the union-backed arbitration process ordered...
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jenna: china has a role in all of this as well? >> china has been backing both iran and north korea with regard to missiles and nukes. >> where can you point to as an example where sanctions have actually worked, when it comes to north korea or iran or anywhere? north korea is obviously still pursuing a very high-tech weapon. >> right. >> according to these reports they deny it. >> sure. >> to be fair when have sanctions really worked? worked5 and 2007 with regard to those financial sanctions i talked about. of course they also worked with south africa which is the prime example. they probably also worked with regard to yugoslavia when the country was going through some problems. sanctions can have an effect. not enough on their own but when you do that with other diplomacy, yeah, they can have a lot of effect on these regimes. iran right now is reeling because of the financial sanctions that the u.s. imposed on the central bank of iran. jenna: that is what many say. the big question do we see them test a nuclear weapon in the next
jenna: china has a role in all of this as well? >> china has been backing both iran and north korea with regard to missiles and nukes. >> where can you point to as an example where sanctions have actually worked, when it comes to north korea or iran or anywhere? north korea is obviously still pursuing a very high-tech weapon. >> right. >> according to these reports they deny it. >> sure. >> to be fair when have sanctions really worked? worked5 and 2007 with...
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they send the jobs over to china. no wonder he likes china so much. martha: i mean a lot of people have the problem with the way this jobs czar handled things in his own business and feel it is not reflective of somebody working really hard to encourage capitalism and to encourage a growing u.s. economy, bob? >> first of all, andrea got to get over the election. it is over, okay. you lost. you have another shot. these things happen. just calm down. it will be all right. now, by the way, immelt is exactly right. the chinese have been kicking our butts around for the last two decades economically. for what they have got, which is a communist-managed economiter doing a very good job of it. not something we want. not something we want of our allies but it is working and you can't argue with that. they have been growing at phenomenal rate. >> currency manipulation, human rights violations. one-child policy. martha: i get bob's point. what bob is saying. business people tend to look at things in, you know, in terms of efficiency. does it work. i think in ma
they send the jobs over to china. no wonder he likes china so much. martha: i mean a lot of people have the problem with the way this jobs czar handled things in his own business and feel it is not reflective of somebody working really hard to encourage capitalism and to encourage a growing u.s. economy, bob? >> first of all, andrea got to get over the election. it is over, okay. you lost. you have another shot. these things happen. just calm down. it will be all right. now, by the way,...
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china buying up u.s. companies on the cheap and we are paying interest on money we are borrowing from the communist company in the first place. a battery system is closed unless regalators stepped in. is it 123. >> it is a-123. >> gretchen: it went bankrupt. >> the judge holds an auction and a chinese company wins the auction and $256 million for a 123. china has the money. that's the bottom line. we have spent all of ours and china is buying up american assets like the battery company. the problem is, taxpayers have subicized a 123 and pumped in a grant and gave it to this outfit that is now bankrupt and china is picking up the pieces dirt cheap. the ball is in president obama's court. there is a committee that decides whether or not a foreign company can buy an american company. on what grounds do they wish to buy. is it in our national interest to sell to a chinese company. time geithner heads that committee and he will decide are we going to sell this dirt cheap to china or not. >> gretchen: oh, by th
china buying up u.s. companies on the cheap and we are paying interest on money we are borrowing from the communist company in the first place. a battery system is closed unless regalators stepped in. is it 123. >> it is a-123. >> gretchen: it went bankrupt. >> the judge holds an auction and a chinese company wins the auction and $256 million for a 123. china has the money. that's the bottom line. we have spent all of ours and china is buying up american assets like the...
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and china is ready to overtake the u.s. sooner than you think. first, forget the fiscal cliff, because the economy is coming back. americans are feeling more optimistic about 2013 and if we play our cards right, we're going to see a new economic renaissance. td ameritrade recently surveyed folks on their outlook for the new year. 43% say they're downright optimistic about the economy and believe we're headed for a rebound. 45% are feeling good about their own finances, but we already know that things are starting to get better. look, we're adding jobs every month, consumer debt continues to shrink. stock markets are up. longer term, though. america will reap the rewards of its domestic energy boom and more oil and gas gets extracted. the drop in the price of natural gas is already helping utilities and factories compete. that's creating more american jobs. and there is more. housing will be the golden lining to the economic cloud that is hanging over this country. mortgage rates are at historic low and should stay that way for the next two years
and china is ready to overtake the u.s. sooner than you think. first, forget the fiscal cliff, because the economy is coming back. americans are feeling more optimistic about 2013 and if we play our cards right, we're going to see a new economic renaissance. td ameritrade recently surveyed folks on their outlook for the new year. 43% say they're downright optimistic about the economy and believe we're headed for a rebound. 45% are feeling good about their own finances, but we already know that...
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china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you something from the report, in the tectonic shift, asia will have surpassed north maeshg and europe combined in terms of global power, based upon gdp, population size, military spending and technological spending. china alone will probably have the largest economy, surpassing that of the united states a few years before 2030. people because of technology, people really have more power than they've ever had before, individuals have more power an that can also cause problems with, you know, people using technology for ill means. >> is this the whole report? >> the 140-page rundown. i'm sure the president gets a bigger one. >> this is an intelligence report. >> yes. >> why on earth would anyone buy a jillion doll
china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you something from the report, in the tectonic shift, asia will have surpassed north maeshg and europe combined in terms of global power, based upon...
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you going to borrow it from china? alisyn: i mean, you know, nancy pelosi's taken a lot of heat for that famous saying, you have to pass the bill to figure out what's in the bill. but now that seems haunting, because the fact that even senators now are saying, whoa, whoa, whoa, slow down, we want some of these things repealed. >> 17 democrats in the senate including senator-elect elizabeth warren from massachusetts. 17 democrats in the senate with three weeks to go before this tax is imposed suddenly realize this is going to cost a lot of money, it's going to hurt my voter, it's going to hurt the device industry. please delay it. all of a sudden. alisyn: maybe they should have read it. >> but it was very long. alisyn: it was long. [laughter] you've got that right. stu varney, thanks so much for parsing all of this. >>> meanwhile, a violent political power struggle on the streets of one major u.s. ally, but as both sides protest in egypt, there's also a push to legitimize some hard-line islamist groups. so in three minu
you going to borrow it from china? alisyn: i mean, you know, nancy pelosi's taken a lot of heat for that famous saying, you have to pass the bill to figure out what's in the bill. but now that seems haunting, because the fact that even senators now are saying, whoa, whoa, whoa, slow down, we want some of these things repealed. >> 17 democrats in the senate including senator-elect elizabeth warren from massachusetts. 17 democrats in the senate with three weeks to go before this tax is...